1) Over time, mining will become cheaper.
2) The pressure of opponents (power, other EPS) will intensify, there will be a lot of negative
3) Owners themselves will gradually get rid of bitcoins (tired of just), or because of fear of collapse of the course. The supply will exceed demand
4) Loss of faith / novelty effect
5) With any "bunch / sneek" Bitcoin will fly down quickly, and recover slowly. (fear, mistrust) that can provoke a further fall.
I personally would not have invested in this currency for more than a few months. It's almost like a Mavro: the rate is constantly growing and those wishing to buy a new course are decreasing.
Topic: why I'm not believing in bitcoin as currency - page 4. (Read 704 times)
Come on man, the solutions for for upgrading the bitcoin network won't come in a day, it takes a lot of time to do things correctly and not screw things up. Give it time, Like Antonopoulos said about the internet it was horrible in the early years, and look at it now. I wish there would be more ways to actually use bitcoin now, but I believe things will get better when riding the lightning. We'll see.
it will take time but it doesn't change the fact the people hold it as casino chips waiting to cash out, most of the people that bought bitcoin from exchanges never even tried to use it so they not even aware of the problem with the light network, they just don't use bitcoin as money
Come on man, the solutions for for upgrading the bitcoin network won't come in a day, it takes a lot of time to do things correctly and not screw things up. Give it time, Like Antonopoulos said about the internet it was horrible in the early years, and look at it now. I wish there would be more ways to actually use bitcoin now, but I believe things will get better when riding the lightning. We'll see.
Strongly agree with your points. Bitcoin "used to be" completely and truly decentralized back then. But sadly the government had to intervene and start regulating exchanges in order to take at least some control over crypto currencies indirectly.
You do know that the fees recently has fallen significantly. Fee as low as 5 sat/b will get your transactions confirmed within next 6-7 blocks.
But the fee problem is not related to government regulations. The regulations are there to protect people from scam (good thing) and to be able to tax them (well, discutable). The high fees are the joint effect of some technological and architecture decisions in the past, greed of miners (mining empty or half empty blocks), and the increasing user base to the point blockchain is overloaded (related to great success of bitcoin) You do know that the fees recently has fallen significantly. Fee as low as 5 sat/b will get your transactions confirmed within next 6-7 blocks.
Gox? Oh, no, I hate to hear this name, this broken website that makes me sad.
But the arrival of the lightning network is likely to change the current status, I think if the block of congestion and transfer speed is too slow problem was solved, so the bitcoin is entirely possible to become real currency.
But the arrival of the lightning network is likely to change the current status, I think if the block of congestion and transfer speed is too slow problem was solved, so the bitcoin is entirely possible to become real currency.
I wish it become a real currency
oh yeah Damn you mt Gox
Gox? Oh, no, I hate to hear this name, this broken website that makes me sad.
But the arrival of the lightning network is likely to change the current status, I think if the block of congestion and transfer speed is too slow problem was solved, so the bitcoin is entirely possible to become real currency.
But the arrival of the lightning network is likely to change the current status, I think if the block of congestion and transfer speed is too slow problem was solved, so the bitcoin is entirely possible to become real currency.
Strongly agree with your points. Bitcoin "used to be" completely and truly decentralized back then. But sadly the government had to intervene and start regulating exchanges in order to take at least some control over crypto currencies indirectly.
You do know that the fees recently has fallen significantly. Fee as low as 5 sat/b will get your transactions confirmed within next 6-7 blocks.
You do know that the fees recently has fallen significantly. Fee as low as 5 sat/b will get your transactions confirmed within next 6-7 blocks.
Bitcoin price rise $1 to $20,000 gave $800,000,000 to a single "cyber criminal".
A major terrorist attack looks imminent.
it is true only with the assumption that a single cyber criminal holds 40.000 BTC. Wow! It is a big assumption you know. Do you have any link or any source to backup your claim? A major terrorist attack looks imminent.
Also, why link cyber criminality with terrorist activity in one sentence? They may be related but saying imminent is a stretch to me.
Bitcoin price rise $1 to $20,000 gave $800,000,000 to a single "cyber criminal".
A major terrorist attack looks imminent.
A major terrorist attack looks imminent.
Bitcoin is a liquefied currency that can be seen online but is not seen as a money market, so Bitcoin does not believe that there are many people who do not believe this Liquid bitkayen.
even with Lightning Network people holding their coins and not really using them.
so Crypto became trade market and not currency
if people not looking at bitcoin as currency in real life, we kinda losing the whole point of bitcoin here
so Crypto became trade market and not currency
if people not looking at bitcoin as currency in real life, we kinda losing the whole point of bitcoin here
Why do you say that even with the lightning network people will be holding their coins instead of using them?
Although we already have some lightning network nodes working on the main net, because we have some "techy" users that are very excited with it's development and can't wait to try it out, I'm sure we all agree that the LN is still in alpha phase to say the least. I do hope we will see it released during this year, but we are still away from it because it's very hard to use right now (and some developers even ask you not to do it right now, at least not on the main net of course).
So you can't say that even with LN, people will not use their coins. I know I will use them, if I see merchants adopting it. If bitcoin gets safe enough I definitely prefer to use it as a payment method, instead of a credit card. I'm not saying I would entirely switch fiat for bitcoin, but I would definitely hold both, and use both as I see fit.
As far as taxes and regulation goes, I'm not against regulation and I think it will help adoption. I do think bitcoin should be taxed as a currency and not as property, but time will tell how things will turn out. I do think we must pay taxes over our bitcoin gains. It's a normal thing to do since we live in a society. If governments are not corrupt, taxes are a good and necessary thing, and I see no problem with them.
I still have a lot of faith in crypto, and I think it has good chances of turning out fine. If governments do a bad job in regulating it, we can still use it as peoples money, just like citizens in Venezuela are doing. I do hope it doesn't have to come to that, and I don't think it will, since most developed countries are not like Venezuela.
not a tax for ice cream but for buying bitcoin, back their how can you pay tax for bitcoin if you mined it with your computer
This is just ridiculous. You have to pay taxes, no matter how you earn that money. If you got into Bitcoin because you want
to avoid paying taxes, then you in the wrong game. Yes, some of the early investors had these great dreams of a
technology that would give the big "FUCK YOU" to governments and that was totally unrealistic. Governments might not be
able to STOP Bitcoin {the technology}, but they can regulate it to death. {effectively banning it and making it a criminal
offense, if you were caught using it} Do you want that or do you want to find some middle ground where Bitcoin can still
be used, within the same regulated environment as other financial technologies? Pay your damn taxes and be done with these
F'ker!
in 2011 government treated bitcoin as "wtf is bitcoin" and relax it's not "real money"
and no one even talked about put tax on bitcoin it was not real for them
I was around back then and I assure you most of us added "investment income" on our tax return, hoping that we would not
be audited. I treated it as "commodity trading" for tax purposes and I paid Capital Gains. {As advised by a tax consultant}
So, IF you really wanted to pay taxes, you could go the extra mile, but people seem to think Bitcoin is Tax-free or Duty
free. Just recently we saw the media claiming that most people on Coinbase, were not paying taxes. We should adapt to
changing circumstances and get with the program or Bitcoin will be banned. {I hate it, but that is the reality}
Edited : Spelling & Grammar
regardless of beleiving bitcoin or not, you can not deny that bitcoin already made us a lot of money (for who joined crypto in < mid 2017)
So that's not a problem anymore, except u re a new investor
So that's not a problem anymore, except u re a new investor
I'm not talking about investing I talking about the belief that bitcoin tried to deliver in 2011
I never invested in crypto I always was mining many of already dead coin
and for me the interest in the technology.
people investing in bitcoin without any belief and what he can do but purely to gain money from
it.
so if you invest in something without any belief on what is it and why you just investing your money into bubble!
if you know why to invest and not only to invest that whole different story.
that is what I'm trying to say stop investing with a hope but understand why you invest in bitcoin and only because you watch some youtube video's that saying invest
bottom line in 2012 if you investing you at least know why bitcoin may be the next thing today it's only pure hope to get rich fast.
regardless of beleiving bitcoin or not, you can not deny that bitcoin already made us a lot of money (for who joined crypto in < mid 2017)
So that's not a problem anymore, except u re a new investor
So that's not a problem anymore, except u re a new investor
even with Lightning Network people holding their coins and not really using them.
so Crypto became trade market and not currency
if people not looking at bitcoin as currency in real life, we kinda losing the whole point of bitcoin here
so Crypto became trade market and not currency
if people not looking at bitcoin as currency in real life, we kinda losing the whole point of bitcoin here
Part of the problem is the limited supply. When a currency is deflationary, people hoard it, they don't spend.
I'm pretty sure another cryptocurrency will end up being the one used everywhere, while bitcoin will be digital gold.
I would like to express regarding the tax part. In my country, you have to pay taxes on all types of income from any investment. Bitcoins was never an exception to this and thus people had to pay taxes on profit made in trading. If you are taking about additional taxes, that is really bad for us. I think even government is milking the craze for bitcoins.
yes the additional taxes
I would like to express regarding the tax part. In my country, you have to pay taxes on all types of income from any investment. Bitcoins was never an exception to this and thus people had to pay taxes on profit made in trading. If you are taking about additional taxes, that is really bad for us. I think even government is milking the craze for bitcoins.
not a tax for ice cream but for buying bitcoin, back their how can you pay tax for bitcoin if you mined it with your computer
This is just ridiculous. You have to pay taxes, no matter how you earn that money. If you got into Bitcoin because you want
to avoid paying taxes, then you in the wrong game. Yes, some of the early investors had these great dreams of a
technology that would give the big "FUCK YOU" to governments and that was totally unrealistic. Governments might not be
able to STOP Bitcoin {the technology}, but they can regulate it to death. {effectively banning it and making it a criminal
offense, if you were caught using it} Do you want that or do you want to find some middle ground where Bitcoin can still
be used, within the same regulated environment as other financial technologies? Pay your damn taxes and be done with these
F'ker!
in 2011 government treated bitcoin as "wtf is bitcoin" and relax it's not "real money"
and no one even talked about put tax on bitcoin it was not real for them
I'm pretty sure another cryptocurrency will end up being the one used everywhere...
“Imagine there's no countriesIt isn't hard to do...”
(c) John Lennon
...while bitcoin will be digital gold.
100% agree!
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